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About the SWOT

About the SWOT Analysis Tool

This analysis tool assists business with planning, helping them to achieve their goals, and manage potential risks. The analysis focusses on both internal and external factors related to the business. SWOT is an acronym and stands for: Strengths, Weaknesses, Opportunities and Threats.

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SWOT

Strengths

Features:

  • internal to the business and within the organisation's control
  • can be both tangible and intangible
  • positive 

Ask yourself:

  • What does the business do well?
  • What is the business's competitive advantage?
  • What is unique about their product/service?

Further considerations:

  • staff skills, knowledge, networks
  • assets: equipment, technology
  • positive reviews/feedback from customers/clients
  • unless you are focussed on one specific management area of the business consider them all: Finance, Operations, Marketing and Human Resources.

Sources of information:

Research the business and gather information from:

  • Business profiles (IBISWorld, company website: About Us)
  • Annual Reports 
  • General Google search